Heritage Trust Co Invests $941,000 in Paychex, Inc. (NASDAQ:PAYX)

Heritage Trust Co bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,710 shares of the business services provider's stock, valued at approximately $941,000.

A number of other hedge funds have also modified their holdings of the company. Monument Capital Management increased its stake in Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider's stock worth $240,000 after buying an additional 72 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of Paychex by 2.6% in the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider's stock worth $423,000 after acquiring an additional 73 shares during the last quarter. Emerald Advisors LLC increased its position in shares of Paychex by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider's stock worth $423,000 after purchasing an additional 74 shares in the last quarter. Weaver Capital Management LLC raised its stake in Paychex by 3.7% in the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider's stock valued at $297,000 after purchasing an additional 75 shares during the last quarter. Finally, Adero Partners LLC lifted its holdings in Paychex by 3.2% in the 4th quarter. Adero Partners LLC now owns 2,391 shares of the business services provider's stock valued at $335,000 after purchasing an additional 75 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

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Paychex Trading Down 1.4 %

NASDAQ PAYX traded down $2.05 during trading hours on Wednesday, reaching $145.57. The company had a trading volume of 1,558,080 shares, compared to its average volume of 1,915,286. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $52.43 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88. The stock has a 50-day moving average of $148.03 and a 200 day moving average of $144.51. Paychex, Inc. has a 1-year low of $115.40 and a 1-year high of $158.37.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business posted $1.38 EPS. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays increased their target price on shares of Paychex from $140.00 to $155.00 and gave the company an "equal weight" rating in a research report on Monday, March 31st. Cfra Research upgraded Paychex to a "hold" rating in a report on Thursday, March 27th. UBS Group boosted their price objective on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Stifel Nicolaus upped their target price on Paychex from $141.00 to $156.00 and gave the company a "hold" rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $148.00 price target on shares of Paychex in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $141.00.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.